Shiba Inu Lead Dev Halts Shibarium Intake Form, SHIB Dips 13%

With Shibarium Beta on the doorstep, lead dev pauses applications, leaving the community divided into two camps.

A lazy grey cat is laying on top of Shibarium's globe.
  • As Shibarium Beta prepares for phased launch, builders registered their projects.
  • Shiba Inu Ecosystem’s main developer Shytoshi Kusama closes the intake form for now.
  • SHIB went through a bearish week with a 13% decline, but SHIB Burn spikes 47%.

The SHIB Token team launched a new Shibarium-dedicated website just a few weeks ago. Still, the enthusiasm from the crypto community had Shytoshi Kusama’s desk piled up with thousands of submission forms in a matter of days.

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Recently, the pseudonymous leading coder decided to pause all Shibarium intake form submissions, as there are “thousands of submissions to the Shibariumtech intake form.” Moreover, the lead dev gladly mentioned that “There are so many amazing projects that will join us on this experimental journey,” and the email invitations to the applicants will be dished out “to most Shibarians today.”

At press time, the 15th ranked canine memecoin Shiba Inu (SHIB) trades at $0.00001117, according to CoinGecko. Hovering above the crucial $0.00001 resistance line since January 14th, 2023, but is close to losing it due to a 4:1 bearish vs. bullish signal ratio, according to the current data provided by IntoTheBlock crypto analytics tool.

BONE of Contention Among SHIB Army

Indeed, the last few weeks were wild for the Shiba Inu community, popularly known as the SHIB Army. Firstly, the unmet expectations of a quick Shibarium release enraged many SHIB holders on Telegram, Discord, and Reddit. To illustrate, many expected the launch of Closed Beta last week, as it was previously announced by Bone ShibaSwap’s Twitter account, which was mistakenly taken as official by both community members and the press.

Naturally, this planted even more FUD (fear, uncertainty, doubt) in one of the largest communities in crypto. As the expectations of Shibarium grew stronger, Bone ShibaSwap (BONE) became a top pick for Ethereum (ETH) whales along with Shiba Inu.

After $BONE was confirmed as the only gas fee token on the upcoming Layer-2 network, the alternative currency reclaimed the $2 key support level on February 26th, 2023, but plunged by 21% since. 

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At press time, Shiba Inu’s BONE trades at $1.53, according to CoinGecko. Since then, the gas fee coin of Shibarium plunged despite being listed by the major platform Crypto.com and lost around $77 million of its global market cap. However, the onboarding continues in full swing even without a new potential Shibarium release date.

On the Flipside:

  • Despite Shy Kusama clearing up new token rumors, many members of the SHIB Army aped into $PAW, an unofficial token that divided the community, as it’s deliberately feeding off Shiba Inu’s name.
  • After the developer team purges, many acts of vengeance occurred within the community, such as verbal attacks on Shytoshi Kusama or parody accounts of popular crypto influencers.

Why You Should Care:

Shiba Inu has arguably the most active community in crypto.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.